Chrome limit increase.

Dandytf

E-mail,from vanquis today.
Chrome card limit increase offer.
From 2.5 to 3.5k
Quite generous.
Going to accept and try and help my usage ratio lower some.

[Deleted User]

OK - was there a question here?

Terry_Towelling

If OP's utilisation percentage is quite high (why else would you need to lower it) that suggests there may be a tendency to use credit when it is available. So, OP, I am hoping you aren't intending to use any of the additional credit - or you will be back to square one.

Dandytf

Terry_Towelling wrote: »

If OP's utilisation percentage is quite high (why else would you need to lower it) that suggests there may be a tendency to use credit when it is available. So, OP, I am hoping you aren't intending to use any of the additional credit - or you will be back to square one.

Trying my very limited CC spending.
Concentrating particularly with non recent aqua use.
Utilisation is prob exceeding 50% across existing cards.
Though nil spending as yet during 2019.

Dandytf

!!! wrote: »

OK - was there a question here?

No 😉
Only my comment on that email when I arrived hone

SnowTiger

Dandytf wrote: »

E-mail,from vanquis today.
Chrome card limit increase offer.
From 2.5 to 3.5k
Quite generous.
Going to accept and try and help my usage ratio lower some.

Drinks on you tonight? :rotfl:

A4445

I’m not sure if this is good or bad.

I guess good if you don’t use it but bad if you do.

Dandytf

A4445 wrote: »

I’m not sure if this is good or bad.

I guess good if you don’t use it but bad if you do.

Time will determine if this generous increase proves the correct decision.
At least I had recently started two extra shifts each working month,
Which does help keep home budget accurate.
I'm not wanting to increase CC balances when possible during 2019
Emergancy's sometimes occur.
+ limited savings continue and maybe next year or later I'll use savings to reduce balances considerably unless aqua force me to use savings earlier than I anticipate

A4445

I wonder if your paying more off the capital than interest if they would still expect increased payments. You never hear anything about CapitalOne doing the same.

Dandytf

A4445 wrote: »

I wonder if your paying more off the capital than interest if they would still expect increased payments. You never hear anything about CapitalOne doing the same.

Aqua have issued their timeline for what they call persistent debt.
This is a step up from interest exceeding minimum payment.
It basically suggests that balance owed should be almost repaid in a reasonable timescale.
I don't have the letter in front of me though I intended to continue with help2save as long as possible.
I'm not ignoring aqua either and asked a note to be added stating I intend to increase repayments in a few months.
Thankfully their advisor recently removed their suggested booster payments.
Maybe in future I could apply for a small 0% card and transfer some away from aqua

A4445

I get confused by this as they set contractual minimum payment and then decide to change payments to what they feel is acceptable. Doesn’t seem fair to me. If someone chooses to spend and pay on time with the contract terms.